Burford Capital (BUR) Price Target Cut: BofA Sees $5.61 Value

BofA Securities has reiterated Burford Capital Limited (BUR) as a Buy, while reducing the price target from $12.10 to $5.61. This adjustment was informed by a three-year rolling Cash Return on Tangible Equity of 20%. Burford has generated over $1.2 billion in cash proceeds in the last two years and is expected to produce over $5 billion over time. The company's income rating was also adjusted to 9 from 7 due to the absence of a cash dividend, but its strong cash position and growth prospects are highlighted.